Free Republic

DES MOINES, Iowa — Retirement accounts already battered by a steep market decline may get hit again as several companies suspend or reduce their 401(k) match to save cash. Workers at General Motors Corp. and Frontier Airlines Holdings Inc., for example, could potentially lose thousands of dollars in company contributions from their retirement accounts. GM, which recently announced it was suspending company matches for its 32,000 eligible salaried workers, said Nov. 3 its U.S. auto sales plunged 45 percent as it struggles along with competitors to survive the credit crisis and financial market turmoil. "People know these actions are necessary...

RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration. Triggered by the financial crisis the past two months, the hearings reportedly were meant to stem losses incurred by many workers and retirees whose 401(k) and IRA balances have been shrinking rapidly. The testimony of Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, in hearings Oct. 7 drew the most attention and criticism. Testifying for...

I am requesting if anyone out there in FReeperdom has information / testimonials (positive or neagative) on the ethics, business practices, professional conduct, overall behavior of its representatives. Need to advise a WWII Generation member on whether or not these folks can be trusted and be able to back it up with facts.

U.S. to allow tax break on retirement accountsBy David Cay Johnston The New York Times MONDAY, MAY 15, 2006 President George W. Bush is scheduled this week to sign into law an extraordinary deal for people with retirement savings accounts. By paying $1 in income taxes before they come due, these investors can ultimately avoid taxes today that are conservatively worth $3.50. Those who cannot afford to take advantage of this deal may think about it differently, however, since the $2.50 of net tax savings is, like all of the Bush tax cuts, being financed with more government debt, which...

At his press conference last Thursday, President Bush added a new “progressive indexing” proposal to his Social Security reform plan that not only largely resolves the program’s imminent insolvency without raising payroll taxes, but also exposes an almost unconscionable hypocrisy in the Democrats’ position on this issue. At odds for months in this debate has been how future payments to recipients are calculated. Currently, increases are tied to annual wage gains of the workforce. However, it has been argued that if they were indexed to the growth of inflation, or “prices” -- which have typically been much lower than changes...

http://personal.fidelity.com/myfidelity/daily/index.shtml Legislative Outlook: Reforms May Let You Save More A Look at What's Ahead in Washington for 2004 Published: January 02, 2004 By Doug Fisher, senior vice president of Fidelity Government Relations Later this month, President Bush will present the State of the Union and follow with a budget highlighting his priorities for 2004. Among his possible agenda items are simplified savings laws allowing taxpayers to put aside more tax-free savings to pay for retirement, health care, education, and even home purchases. The president unveiled these concepts in last year's budget, but he and Congress focused instead on cutting the...